Philips’ TV division has been hemorrhaging money for years; it just can’t compete with Asian manufacturers and makes a lot more money selling light bulbs and electric toothbrushes. (Just kidding, Philips’ most lucrative business segment is medical equipment). An article in Reuters notes that its TV business has lost almost â‚¬1 billion since 2007. In 2011 it sold â‚¬2.7 billion worth of TVs, down from â‚¬3.1 billion in 2010, but spent â‚¬2.9 billion making the darn things.

Philips published its 2011 Annual Report yesterday, and the company suffered a net loss of â‚¬1.3 billion on sales of â‚¬22.5 billion, even after writing off the TV business as a part of its discontinued operations (which it referred to as an “onerous contract.”)

Consequently, this is a good move for TPV Technology, which saw its sales grow 44% in 2010 to $11.6 billion (its 2011 figures aren’t out yet, and unlike Philips, the company publishes revenues in US dollars). Having control of the Philips brand brings a lot more name recognition than its own brand, AOC, which is marketed in the US but not exactly popular. Along with its other joint ventures, including making components with LG Display, TPV seems to have the know-how to churn out low-cost electronics. So I expect its business to grow accordingly.

US Economy in January '15 | A Multi-Dimensional View by D&B

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Executives on the Move

New CFO Joins Hershey from Kelly Services

March 2015

The Hershey Company, global maker of Reese’s, Twizzlers, Kit Kat, and other confections, named Patricia Little as its new SVP and CFO, effective March 16. Little is succeeding David Tacka, who retired from Hershey at the end of 2014. Mostly recently CFO at staffing services giant Kelly Services, Little will step down March 13. Kelly Services’ controller, Olivier Thirot, will fill in as Kelly’s acting CFO until a successor is found.

Company Spotlight: Update of the Week

In an update last week, D&B Editor Christian Hudspeth explained why “simply put, business has been good” for Lennar Corporation over the past five years. The homebuilder, one of the largest in the US, has benefitted from affordable home prices, low interest rates, and a strengthening economy. Its new home deliveries jumped some 15% in fiscal 2014, while the average sales prices rose 12%. Lennar has seen revenue increase from some $3.1 billion in fiscal 2010 to $7.8 billion in fiscal 2014. Follow Christian on Twitter.

First Research Trend of the Week

Build-outs of faster 4G mobile networks in emerging markets are driving growth in the telecommunications equipment industry. While construction of 4G networks is mostly complete in the US, Japan, and South Korea, the technology is just coming to much of Eastern Europe, Latin America, and Africa, according to Gartner. As a result, worldwide wireless telecom equipment spending is expected to rise 5 percent this year, according to Bernstein Research. For more trends, please see our Telecommunications Equipment Manufacturing industry profile.